Road transport is one of the most important contributing sectors of Europe’s total emissions. The target of European Union (EU) road transport policy is to promote a more efficient and environmentally friendly mobility. In order to achieve its strategic goals, several measures were introduced to encourage implementation of more environmentally friendly technical engine standards. National car fleet composition can have significant impacts on emissions and energy consumption. This study aims to provide a comparative analysis of the contribution of road fleet composition in emissions and show the evolution of emissions costs on national economies for four European countries. Annual emissions of each country were estimated using official data and emission costs for various pollutants were calculated based on most updated values of damage costs. Results show a significant technological change in vehicles’ engines can contribute to reduce the environmental impacts of transport.